Bill No. 20-22 Amending Bond Ordinance_City of South Bend, Indiana Variable Rate Economic Development Revenue Bonds, Series 2007 (PEI_Genesis Project)

Home Browse Search

100 Section 13.10. Binding Effect.This Indenture shall inure to the benefit of and shall be binding upon the Issuer and the Trustee and their respective successors and assigns, subject, however, to the limitations contained herein. Section 13.11. Counterparts.This Indenture may be executed in any number of counterparts, each of which shall be regarded as an original and all of which shall constitute but one and the same instrument. Section 13.12. Governing Law.This Indenture and the Bonds shall be deemed to be contracts made under the laws of the State and for all purposes shall be governed by and construed in accordance with the laws of the State. Section 13.13. Notice to Rating Agencies.If the Project Bonds are rated by FitchRatings (“Fitch”), Moody’s or S&P, written notice of any amendment of this Indenture or the Letter of Credit or the Confirming Letter of Credit, if any, any expiration, termination, extension or substitution of the Letter of Credit or the Confirming Letter of Credit, if any, or any material change to the Reimbursement Agreement or any remarketing agreement entered into by the Remarketing Agent and the Borrower, and of conversion to the Fixed Rate shall be sent by the Borrower to Moody’s in advance of such events. The Trustee shall notify Moody’s of (i) any acceleration, redemption (other than scheduled redemptions), mandatory tender or defeasance of the Project Bonds and (ii) any change in identity of the Trustee or the Remarketing Agent. The Borrower or the Trustee, as applicable, shall provide Fitch, Moody’s or S&P with any other information reasonably requested by Moody’s in order to maintain the rating on the Bonds. END OF ARTICLE XIII